The Nigerian Education Loan Fund has issued a firm denial of viral social media reports claiming that the Federal Government suspended upkeep allowance payments to students under the student loan scheme, describing the publications as fabricated and deliberately designed to cause panic.

In a statement released on Thursday, May 28, 2026, by its Director of Strategic Communications, Oseyemi Oluwatuyi, the fund condemned the circulating materials in strong terms. "These reports, including a fabricated statement falsely attributed to NELFUND and an AI generated newspaper front page purportedly from The Nigerian Tribune, are entirely fake, misleading, and designed to create panic, confusion, and distrust among beneficiaries and the general public," the statement read.

NELFUND was categorical that "No directive has been issued by the Federal Government or NELFUND regarding the suspension of upkeep allowances," adding that none of the materials in circulation originated from any official channel of the fund or any authorised government communication platform.

The agency specifically addressed the viral newspaper front page being shared online, confirming it is not an authentic publication of The Nigerian Tribune.

Since its establishment under the Student Loans Act, NELFUND has disbursed more than N206 billion in loans to support 1.6 million students across public tertiary institutions in Nigeria. The fund opened its loan application portal on May 24, 2024, and was designed to assist eligible students with tuition and daily living expenses, particularly those who may struggle to finance their education independently.

Beneficiaries are expected to begin repayment after completing their studies and securing employment, an arrangement intended to ensure the programme remains sustainable without burdening students before they are financially stable.

The fund urged beneficiaries, parents, stakeholders and members of the public to disregard the false reports entirely and rely only on verified information issued through its official communication channels and verified social media platforms. It also cautioned the public against spreading unverified content, warning that doing so contributes to unnecessary anxiety among students and families nationwide.

"The fund remains steadfast in its commitment to expanding access to higher education and supporting Nigerian students through sustainable financing initiatives," NELFUND added.